The main characteristic of the world order of the mid - late 2000's is as follows :
Liberalism or democratic capitalism has triumphed over socialism and is being incorporated into Easter Europe. The Western, particularly American values and attitudes of materialism, consumption and self gratification in an urban, industrial, high technological context are being rapidly spread by American media and MNC's.
The dominant goals are those of the G-7 powers and their financial institutions and emphasis global capitalism, democracy, rule of Euro - global capitalism, democracy, rule of Euro - North American international law, growing global trade,
peaceful conflict resolution, and inequality in wealth, power and status between the G7 and other states.
The bipolar system has been replaced by an unipolar oligarchy of the G7, led on most dimensions by US, along with some increase in power of non-state actors (IMF) and declining power generally of the Third World.
1. Security: The USA has become the single military superpower by capability and leadership.
2. Culture: American Culture is dominant and rapidly spreading through out the globe.
3. Economy: here an oligarchy of shared power among the US, Germany and Japan exists.
4. Political / DIPLOMATIC: the global influence of major LDC's (Least Developed Countries) has decreased, although there is increased latitude for regional influence of some Third World powers.